Briefing
President's Message: A Unique Moment for Small Towns
Barkin, Tom (2022-04)
Every month, I visit small towns and hear from business and community leaders about what's working, what's not working, and what they need. In my previous column, I looked at the key elements I've seen in every small town that has made major progress toward revitalization: a story, regional cooperation, and dedicated funding, all tied together by "scrappiness." (See "Making It Work," Econ Focus, First Quarter 2022.) Now, I'd like to take a deeper dive into the issue of funding, because money is the one critical constraint every community faces, across every issue.
Richmond Fed Economic Brief , Issue 2Q , Pages 1-2

Journal Article
President's Message: How Do Small Towns Grow?
Barkin, Tom (2025-08-12)
Following the Great Recession, the dominant narrative around rural communities has been one of population loss: opportunities are few, so kids leave small hometowns behind. No one moves in to replace them. And a sad but real demographic reality is that an older population means larger natural population losses, as well.
Econ Focus , Volume 25 , Issue 3Q , Pages 1-2

Journal Article
President's Message: Operating With Limited Data
Barkin, Tom (2025-12-16)
The Fed has been operating with limited data as a result of the government shutdown. While the government reopened over a month ago, delayed data releases are still slowly rolling out.The good news is that we haven't been navigating blind. We have other ways to keep a pulse on the economy. Private sector data help. For the most part, they aren't as definitive nor as calibrated, but they can highlight big shifts in economic conditions. In addition, the Fed benefits from collecting real-time information directly from the communities we serve.
Econ Focus , Volume 25 , Issue 4Q , Pages 1-2

Journal Article
President's Message: Communities Light the Way
Barkin, Tom (2026-04-15)
For much of 2025, businesses faced extraordinary uncertainty. Major policy changes — from tariffs to immigration to federal spending cuts — arrived alongside geopolitical shifts and rapid advancements in artificial intelligence (AI).I likened running a business in such conditions to "driving through fog." With uncertainty high, business leaders didn't feel comfortable putting their foot on the gas nor slamming on the brakes. They didn't lean into investment, but they didn't necessarily cut back. They didn't hire, but they didn't fire either. They simply pulled over, turned on their ...
Econ Focus , Volume 26 , Issue Q1/Q2 , Pages 1-2

Journal Article
President's Message: Navigating Supply Shocks
Barkin, Tom (2026-08-17)
Over the last several years, the U.S. economy has faced wave after wave of supply shocks. Every time one wave recedes, we're hit with another: the COVID-19 pandemic, the Russian invasion of Ukraine, the collapse of Silicon Valley Bank, the tariff tumult, and most recently, the conflict in the Middle East. We've seen smaller ripples, too: a ship lodged in a major trade route, bird flu, factory fires, government shutdowns, ice storms, and more. These shocks affect the available supply of goods and services: too little energy, no chips for cars, tighter credit, not enough wheat. After the ...
Econ Focus , Volume 26 , Issue Q3 , Pages 1

Journal Article
Trade and Trepidation
Barkin, Tom (2018-04)
President's Message: Trade and Trepidation
Econ Focus , Issue 2Q , Pages 1-1

Journal Article
The Supply Side of Rural Development
Barkin, Tom (2018-07)
President's Message: The Supply Side of Rural Development
Econ Focus , Issue 3Q , Pages 1-1

Journal Article
Business Short-Termism and Monetary Policy
Barkin, Tom (2019-04)
President's Message: Business Short-Termism and Monetary Policy
Econ Focus , Issue 2Q-3Q , Pages 1-1

Journal Article
What's Lost when Rural Hospitals Close
Barkin, Tom (2019-01)
President's Message: What's Lost when Rural Hospitals Close
Econ Focus , Issue 1Q , Pages 1-1

Journal Article
What’s Happening to Productivity Growth?
Barkin, Tom (2018-10)
President's Message: What?s Happening to Productivity Growth?
Econ Focus , Issue 4Q , Pages 01-01